Assembly101 is a new procedural activity dataset featuring 4321 videos of people assembling and disassembling 101 "take-apart" toy vehicles. Participants work without fixed instructions, and the sequences feature rich and natural variations in action ordering, mistakes, and corrections. Assembly101 is the first multi-view action dataset, with simultaneous static (8) and egocentric (4) recordings. Sequences are annotated with more than 100K coarse and 1M fine-grained action segments, and 18M 3D hand poses. We benchmark on three action understanding tasks: recognition, anticipation and temporal segmentation. Additionally, we propose a novel task of detecting mistakes. The unique recording format and rich set of annotations allow us to investigate generalization to new toys, cross-view transfer, long-tailed distributions, and pose vs. appearance. We envision that Assembly101 will serve as a new challenge to investigate various activity understanding problems.